American Express to cut more than 4,000 jobs
NEW YORK (AP) — American Express is planning to cut more than 4,000 jobs across the company this year, a company spokeswoman told The Associated Press.
The job cuts would represent about 6 percent of American Express' total headcount. An American Express spokeswoman said Wednesday the cuts will span U.S. and international operations
Meanwhile, American Express announced an 11 percent rise in quarterly profit from a year ago.
EBay to cut 2,400 jobs, spin off or sell enterprise unit
NEW YORK (AP) — EBay plans to cut 2,400 jobs, or 7 percent of its staff, in the first quarter to simplify its structure and boost profit ahead of a planned separation of its business.
The e-commerce company on Wednesday also reported that its fourth-quarter net income rose 10 percent on continued strength of its PayPal payments business, which it expects to spin off in the second half of the year.
The San Jose, California-based company also announced plans Wednesday to spin off or sell its enterprise unit, which develops online shopping sites for brick-and-mortar retailers.
EBay has been under pressure to improve profitability from its largest activist investor, Carl Icahn. On Wednesday eBay said it agreed to name an executive from Icahn's investment firm, Jonathan Christodoro, to its board.
UnitedHealth earnings rise 6 pct, top Wall St. expectations
UnitedHealth topped Wall Street expectations for the fourth quarter, and the nation's largest health insurer brought an optimistic vibe for the new year.
The Minneapolis-based insurer said Wednesday that it expects stronger enrollment growth from Medicare Advantage plans, a key product that had been pinched by funding cuts in recent years.
It also has already gained more than 400,000 customers through its expanded presence on the health care overhaul's public insurance exchanges, and operating earnings from its Optum segment, which runs several businesses outside health insurance, climbed more than 50 percent.
Toyota remains top in global vehicle sales, beats VW, GM
TOKYO (AP) — Toyota stayed at the top in global vehicle sales in 2014, taking that auto industry crown for the third year straight, but was less upbeat about this year.
The Japanese automaker sold 10.23 million vehicles, beating out Volkswagen and General Motors. But it expects to sell fewer trucks and cars this year, forecasting sales will fall 1 percent to 10.15 million vehicles, according to numbers released Wednesday.
The drop is largely due to a projected 9 percent plunge in Japan sales. Toyota expects overseas sales to grow 2 percent this year to more than 8 million vehicles.
By The Associated Press=
The Dow Jones industrial average climbed 39.05 points, or 0.2 percent, to 17,554.28. The S&P 500 rose 9.57 points, or 0.5 percent, to close at 2,032.12. The Nasdaq gained 12.58 points, or 0.3 percent, to 4,667.42.
Benchmark U.S. crude rose $1.31 to close at $47.78 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.04 to close at $49.03 in London. Wholesale gasoline rose 1.3 cents to close at $1.326 a gallon. Heating oil rose 2 cents to close at $1.646 a gallon. Natural gas rose 14.3 cents to close at $2.974 per 1,000 cubic feet.